Yiren Digital (NYSE:YRD) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Yiren Digital (NYSE:YRD) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Yiren Digital Stock Down 0.8 %

Shares of YRD opened at $5.87 on Tuesday. Yiren Digital has a 52-week low of $2.26 and a 52-week high of $9.20. The firm has a market cap of $510.28 million, a price-to-earnings ratio of 1.85 and a beta of 0.72. The business’s 50 day moving average is $5.68 and its two-hundred day moving average is $5.08.

Yiren Digital (NYSE:YRD) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.65 EPS for the quarter. The business had revenue of $205.93 million for the quarter. Yiren Digital had a net margin of 37.05% and a return on equity of 24.38%.

Yiren Digital Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.20 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend was Monday, September 30th. Yiren Digital’s payout ratio is 10.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Yiren Digital by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock worth $4,626,000 after purchasing an additional 90,726 shares in the last quarter. Acadian Asset Management LLC grew its position in Yiren Digital by 6.3% in the 2nd quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock valued at $1,943,000 after buying an additional 25,811 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Yiren Digital by 44.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock valued at $1,459,000 after buying an additional 78,415 shares during the period. Secure Asset Management LLC bought a new stake in shares of Yiren Digital during the 2nd quarter worth about $310,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Yiren Digital in the 1st quarter worth approximately $223,000. Institutional investors own 1.99% of the company’s stock.

About Yiren Digital

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.